San Diego-based Engrail Therapeutics launched with $32 million in a Series A financing round that was solely funded by Nan Fung Life Sciences (NFLS).
Menlo Park, California-based Orca Bio closed on a Series D financing worth $192 million, bringing the total raised since 2016 to $300 million.
Intra-Cellular Therapies Inc.’s lead drug to treat schizophrenia in adults received approval from the U.S. Food and Drug Administration, sending the company’s shares soaring 85 percent.
Sage Therapeutics Inc.’s experimental fast-acting drug aimed at treating severe depression failed a closely-watched study, sending shares down 60 percent and erasing about $4.6 billion of the drugmaker’s market value.
U.S. drugmaker Bristol-Myers Squibb Co. reported higher-than-expected third-quarter 2019 profit, helped by strong sales of the blood thinner Eliquis, even as growth of the company’s blockbuster cancer treatment Opdivo slowed.
AstraZeneca reported positive results from clinical trial programs for Brilinta and Farxiga, causing stock to jump 3.4 percent.
The FDA refused to fully review the marketing application for Zogenix’s treatment for seizures associated with Dravet syndrome.
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GlaxoSmithKline bolstered the company’s cancer drug development pipeline, agreeing to pay up to 3.7 billion euros ($4.2 billion) to Merck KGaA for the rights to a next-generation immunotherapy.
The online publication NEO.LIFE pointed to seven areas where biotech companies and researchers have significant potential to “dramatically reshape our concept of what it means to be human.”